Los Angeles Capital Management LLC Buys 8,202 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

Los Angeles Capital Management LLC raised its stake in Commvault Systems, Inc. (NASDAQ:CVLT) by 59.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,102 shares of the software maker’s stock after purchasing an additional 8,202 shares during the quarter. Los Angeles Capital Management LLC owned approximately 0.05% of Commvault Systems worth $2,242,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Headlands Technologies LLC bought a new position in shares of Commvault Systems during the 4th quarter worth approximately $67,000. PNC Financial Services Group Inc. boosted its stake in shares of Commvault Systems by 28.5% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,429 shares of the software maker’s stock worth $97,000 after acquiring an additional 317 shares during the period. Vise Technologies Inc. bought a new position in shares of Commvault Systems during the 4th quarter worth approximately $212,000. Teza Capital Management LLC bought a new position in shares of Commvault Systems during the 3rd quarter worth approximately $253,000. Finally, DekaBank Deutsche Girozentrale bought a new position in shares of Commvault Systems during the 3rd quarter worth approximately $269,000. 93.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on CVLT shares. Royal Bank of Canada lifted their target price on Commvault Systems from $97.00 to $112.00 and gave the stock a “sector perform” rating in a research note on Wednesday, May 1st. Lake Street Capital lifted their price target on Commvault Systems from $86.00 to $98.00 and gave the stock a “hold” rating in a report on Wednesday, May 1st. Wells Fargo & Company lifted their price target on Commvault Systems from $125.00 to $140.00 and gave the stock an “overweight” rating in a report on Thursday, May 16th. DA Davidson lifted their price target on Commvault Systems from $125.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, June 14th. Finally, KeyCorp lifted their price target on Commvault Systems from $109.00 to $122.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $121.40.

Insider Buying and Selling at Commvault Systems

In other Commvault Systems news, CEO Sanjay Mirchandani sold 15,975 shares of Commvault Systems stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $110.20, for a total value of $1,760,445.00. Following the completion of the transaction, the chief executive officer now directly owns 539,465 shares of the company’s stock, valued at approximately $59,449,043. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Sanjay Mirchandani sold 15,975 shares of Commvault Systems stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $110.20, for a total value of $1,760,445.00. Following the transaction, the chief executive officer now owns 539,465 shares in the company, valued at approximately $59,449,043. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Gary Merrill sold 6,040 shares of Commvault Systems stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $110.20, for a total value of $665,608.00. Following the completion of the transaction, the chief financial officer now owns 128,207 shares in the company, valued at approximately $14,128,411.40. The disclosure for this sale can be found here. Insiders sold 59,816 shares of company stock valued at $6,613,874 in the last three months. Corporate insiders own 1.00% of the company’s stock.

Commvault Systems Price Performance

Shares of NASDAQ CVLT opened at $119.67 on Friday. The stock has a market capitalization of $5.19 billion, a PE ratio of 31.83 and a beta of 0.60. The business has a fifty day moving average price of $108.13 and a two-hundred day moving average price of $95.49. Commvault Systems, Inc. has a fifty-two week low of $63.70 and a fifty-two week high of $120.37.

Commvault Systems (NASDAQ:CVLT) last announced its quarterly earnings data on Tuesday, April 30th. The software maker reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.10. The firm had revenue of $223.29 million during the quarter, compared to analysts’ expectations of $213.00 million. Commvault Systems had a return on equity of 31.27% and a net margin of 20.13%. On average, equities analysts expect that Commvault Systems, Inc. will post 1.7 EPS for the current year.

About Commvault Systems

Commvault Systems, Inc provides data protection platform that helps customers to secure, defend, and recover their data in the United States and internationally. The company offers Commvault Backup and Recovery, a backup and recovery solution; Commvault Disaster Recovery, a replication and disaster recovery solution; Commvault Complete Data Protection, a data protection solution; and Metallic Data Protection as-a-service, which delivers enterprise-grade data protection as a service on a cloud platform, with advanced built-in security controls.